HTC cuts costs, sacks staff and changes focus as company records more losses

The mobile technology space over the years has gradually become very competitive. Infact it has become a slugfest, with every manufacturer trying so hard to woo users. Churning out varieties on devices almost on daily basis.

Following the release of Q2 2015 reports, HTC has joined the list of phone makers bleeding with heavy losses. This time they lost cash to the tune of $252 million which was attributed to weak sales (especially) for the HTC One M9. Even the CFO and Head of Global Sales, Chialin Chang conceeded that people ‘prefer more fashionable phones’ unlike HTC’s offerings.

With this in mind, the company is determined to cut costs across all levels and divert resources to focus other ventures to remain profitable. They’ve already invested up to $10 million in VR technology and are preparing to launch their own VR headset before the end of the year. Also, Mr Chang hinted that HTC will shift to making “premium mid-range” devices. Something of the likes of OnePlus 2 and Xiaomi’s.